First Bancorp (FBNC) Expected to Announce Earnings of $0.48 Per Share
Equities analysts predict that First Bancorp (NASDAQ:FBNC) will report $0.48 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for First Bancorp’s earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.47. First Bancorp posted earnings of $0.23 per share during the same quarter last year, which would indicate a positive year over year growth rate of 108.7%. The business is scheduled to announce its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that First Bancorp will report full-year earnings of $1.87 per share for the current financial year, with EPS estimates ranging from $1.79 to $1.91. For the next year, analysts expect that the firm will report earnings of $2.15 per share, with EPS estimates ranging from $1.95 to $2.25. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow First Bancorp.
First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $51.79 million for the quarter, compared to analysts’ expectations of $49.49 million. First Bancorp had a return on equity of 7.77% and a net margin of 17.52%.
A number of equities analysts have commented on the stock. Brean Capital set a $33.00 price objective on shares of First Bancorp and gave the stock a “buy” rating in a report on Wednesday, July 26th. Zacks Investment Research downgraded shares of First Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 3rd. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $34.00 price objective on shares of First Bancorp in a research report on Monday, June 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $32.50.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, September 29th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. First Bancorp’s dividend payout ratio (DPR) is presently 22.54%.
A number of hedge funds have recently added to or reduced their stakes in FBNC. Teachers Advisors LLC lifted its position in First Bancorp by 23.6% in the 4th quarter. Teachers Advisors LLC now owns 46,024 shares of the financial services provider’s stock worth $1,249,000 after buying an additional 8,788 shares in the last quarter. First Trust Advisors LP grew its stake in First Bancorp by 0.6% in the 1st quarter. First Trust Advisors LP now owns 56,825 shares of the financial services provider’s stock valued at $1,664,000 after buying an additional 321 shares during the last quarter. Bank of New York Mellon Corp grew its stake in First Bancorp by 12.0% in the 1st quarter. Bank of New York Mellon Corp now owns 157,128 shares of the financial services provider’s stock valued at $4,603,000 after buying an additional 16,795 shares during the last quarter. Swiss National Bank grew its stake in First Bancorp by 30.0% in the 1st quarter. Swiss National Bank now owns 39,000 shares of the financial services provider’s stock valued at $1,142,000 after buying an additional 9,000 shares during the last quarter. Finally, American International Group Inc. grew its stake in First Bancorp by 7.0% in the 1st quarter. American International Group Inc. now owns 12,110 shares of the financial services provider’s stock valued at $355,000 after buying an additional 791 shares during the last quarter. Institutional investors own 66.03% of the company’s stock.
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About First Bancorp
First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Bank offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
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